The Global Freight Transportation Sector is a highly valuable industry responsible for the day-to-day supply of products. It plays a vital role in maintaining the supply and demand chain, even though it is rigged with inefficiencies.
The efficiency of supply chains not only relies on punctual deliveries but also on accurate, instant, effective tracking of products, shipments, and fleets. However, most of the industry still relies on dated technology, causing delayed deliveries, wasted resources such as fuel, time, and money, and unfair advantage to intermediaries.
In theory, with the evolution of the Internet of things, every part of the supply chain has been transformed. But the use cases of the technology are still minimal due to lack of enforcement. However, to move ahead in the cutting edge generation, it’s vital to explore the emerging technologies that can beneficially transform the supply chain model and can be used for sustainable mutation of tracking.
Luckily, LaneAxis has taken over the job of combining blockchain technology with the freight industry to provide an excellent broker-less direct network. Blockchain technology is offering new and promising opportunities for supply chain management and tracking. It can potentially improve supply chain transparency, traceability and reduce overhead administrative costs.
Blockchain Promotes Sustainability
Blockchain has the power to drive positive change on a large scale. It has emerged as a vital part of a sustainable future by fostering direct relationships between consumers and producers, eliminating intermediaries. Blockchain improves the supply chain and tracking practices by introducing smart contracts that act as unbiased and immutable transaction records between the shipper and carrier.
The major benefits of blockchain are that it can ensure transparency and improve security. Every transaction conducted on the blockchain is permanent as there is a historical record of every transaction that cannot be tampered with. Also, it provides an unbiased and safer financial institution than the traditional one.
The key areas of the shipping process where blockchain can potentially bring transformative results are –
- Implementation of blockchain technology will potentially cut down administrative and operational costs and risks associated with parties involved in the process by bringing more transparency and efficiency
- Blockchain will digitize the freight industry to a new level and create an equal and fair opportunity for every party involved
LaneAxis: The gamechanger for the global freight transportation industry
After a decade of research and development, LaneAxis has developed a revolutionary platform for shippers and carriers to interact directly. LaneAxis is setting new standards for the freight transport industry by tackling significant drawbacks such as –
- Inefficiencies of the Broker-Dominated Freight Trucking Industry
- Lack of Transparency
- Growth of Brokerage Sector
- No Network of Drivers
- Costly Services
- No Direct Negotiation
LaneAxis uses a multi-pronged approach to address these problems and uses AXIS token as the tool to bring about the change. Besides AXIS token, LaneAxis utilizes its patented software (FreightVISION app), Artificial Intelligence, and blockchain technology to create a fair and optimized environment for the shippers and truckers.
What does LaneAXIS offer?
Shippers and truckers for a long time have relied on intermediaries to connect them for a hefty fee. But LaneAxis eliminates this need for intermediaries by creating a database with all the information of shippers, truckers, and third parties such as insurance agencies, etc. This database also includes information such as loading and unloading times, the estimated delivery time of the trucker, and his performance rating, shipments loading time of the shipper, etc.
Shippers can post their requirements for a trucker on LaneAxis with all the necessary information, and truckers will bid on them for the job. Shippers then can choose the right person for the delivery using a FICO-style ranking system developed by LaneAxis which categorizes the truckers according to their performance.
LaneAxis optimizes the payment process by generating a smart contract between the trucker and the shipper once the job is accepted. The shipper has to pay the payment in advance, which is stored in the LaneAxis ecosystem and transferred to the trucker on the completion of the job. Besides an optimized payment method, LaneAxis also offers real-time tracking of the shipment to ensure on-time delivery.
These services can be utilized by paying with the AXIS token which acts as the primary mode of transaction for LaneAxis. The AXIS token is built on an L2 solution to ensure speedy and safe transactions. The token has additional utility as it can be staked to earn more yield in the form of AXIS tokens.
LaneAxis is a genuinely revolutionary blockchain project in all prospects and will revolutionize the global freight industry. Starting with North America, the company will spread its roots worldwide and bring a much-needed change in the industry.
Disclaimer: This is a paid post and should not be considered news/advice